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[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 1023 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                S. 1023

 To amend the Internal Revenue Code to provide a refundable credit for 
 costs associated with Information Sharing and Analysis Organizations.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             April 21, 2015

 Mr. Moran (for himself and Mrs. Gillibrand) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL

 
 To amend the Internal Revenue Code to provide a refundable credit for 
 costs associated with Information Sharing and Analysis Organizations.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CYBERSECURITY INFORMATION SHARING CREDIT.

    (a) In General.--Subpart C of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by inserting after 
section 36B the following new section:

``SEC. 36C. CYBERSECURITY INFORMATION SHARING CREDIT.

    ``(a) In General.--There shall be allowed as a credit against the 
tax imposed by this subtitle for any taxable year an amount equal to 
the qualified cybersecurity information sharing organization costs paid 
or incurred by the taxpayer during such taxable year.
    ``(b) Qualified Cybersecurity Information Sharing Organization 
Costs.--For purposes of this section--
            ``(1) In general.--The term `qualified cybersecurity 
        information sharing organization costs' means the sum of--
                    ``(A) dues for membership in a designated 
                cybersecurity information sharing organization,
                    ``(B) personnel participation costs,
                    ``(C) product and service costs directly related to 
                the sharing of information with a designated 
                cybersecurity information sharing organization, and
                    ``(D) other amounts (not including amounts for 
                travel) relating to participation in activities of the 
                designated cybersecurity information sharing 
                organization.
            ``(2) Personnel participation costs.--The term `personnel 
        participation costs' means the cost associated with the time 
        that employees of the taxpayer spend participating in 
        activities of a designated cybersecurity information sharing 
        organization on behalf of the taxpayer, determined on the basis 
        of the regular hourly compensation paid to each such employee.
            ``(3) Designated cybersecurity information sharing 
        organization.--The term `designated cybersecurity information 
        sharing organization' means--
                    ``(A) an Information Sharing and Analysis 
                Organization (as defined in section 212(5) of the 
                Homeland Security Act of 2002 (6 U.S.C. 131(5))),
                    ``(B) a local, regional, or State fusion center (as 
                defined in section 210A(j)(1) of such Act (6 U.S.C. 
                124h(j)(1))), or
                    ``(C) an organization that has been identified by 
                the Secretary as such in consultation with the 
                Secretary of Homeland Security,
        that shares cyber-threat information in a structured format and 
        standardized language designated by the Secretary of Homeland 
        Security through a set of services and message exchanges to 
        enable automated and near-instantaneous sharing of actionable 
        cyber-threat information across organizations and systems.''.
    (b) Conforming Amendment.--Paragraph (2) of section 1324(b) of 
title 31, United States Code, is amended by inserting ``, 36C'' after 
``36B''.
    (c) Clerical Amendment.--The table of sections for subpart C of 
part IV of subchapter A of chapter 1 of the Internal Revenue Code of 
1986 is amended by inserting after the item relating to section 36B the 
following new item:

``Sec. 36C. Information sharing and analysis organization credit.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred after December 31, 2014.
                                 <all>
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